Temu has rejected the European Commission's preliminary findings concerning its conduct during an EU investigation, firmly denying allegations that it has benefited from foreign state subsidies that distort competition within the bloc's internal market.
In a statement, the company said it disagrees with the European Commission's preliminary conclusions as outlined in the Statement of Grounds, maintaining that it fully cooperated with the investigation and responded to all requests submitted by the Commission throughout the inspection process.
Temu said it will examine the Statement of Grounds in detail and submit a formal response, expressing confidence that the European Commission will reconsider its position.
At the same time, the company "categorically rejects any claim that it has received foreign state subsidies that distort competition in the European Union's internal market", stressing its commitment to the principles of fair competition.
"The company's operations in the European Union are financed through stable cash flows generated by its own business activities, which are sufficient to support its operations in the European market," the statement said.
Temu added that it does not rely on "foreign subsidies" to finance its commercial activities or to obtain any competitive advantage within the EU internal market.
The company concluded by stating that it remains committed to continuing its cooperation with the European Commission and complying with all legal obligations arising under European Union law.
Source: CNA
